MicroStrategy scoops another 5,262 BTC before joining Nasdaq-100

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MicroStrategy announced on Monday that it acquired 5,262 Bitcoin valued at $561 million between December 16 and 22, marking its seventh consecutive week of Bitcoin purchases ahead of its upcoming inclusion in the Nasdaq-100 index. The acquisition was executed at an average price of approximately $106,662 per coin.

MicroStrategy has acquired 5,262 BTC for ~$561 million at ~$106,662 per bitcoin and has achieved BTC Yield of 47.4% QTD and 73.7% YTD. As of 12/22/2024, we hodl 444,262 $BTC acquired for ~$27.7 billion at ~$62,257 per bitcoin. $MSTR https://t.co/asDGerBV7q

— Michael Saylor⚡️ (@saylor) December 23, 2024

The Tysons, Virginia-based company funded its Bitcoin purchase by selling shares of its own stock, according to a Monday SEC filing. Last week, MicroStrategy sold 1,317,841 shares, generating approximately $561 million in net proceeds. MicroStrategy still has around $7 billion worth of shares available to sell under their sales agreement as of December 22, indicating potential for further funding through stock sales.

The latest purchase contributes to the company’s impressive Bitcoin yield of 47.4% quarter-to-date and 73.7% year-to-date. Currently, MicroStrategy holds a total of 444,262 BTC, acquired for approximately $27.7 billion at an average cost of $62,257 per coin

MicroStrategy shares have surged 476% year-to-date, making it one of Nasdaq’s top performers in 2023. This performance helped qualify the company for inclusion in the Nasdaq-100 index, which takes effect ahead of market opening today.

Nasdaq announced its annual reconstitution of the Nasdaq-100 index on December 13, adding MicroStrategy alongside Palantir Technologies and Axon Enterprise.

The market responded positively to the news, with MicroStrategy’s stock price rising 11.5% to $364 at Friday’s close, according to Yahoo Finance data.

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